The agreement requires rich countries to meet a funding commitment of $100 billion per year beyond 2020 and use that number as a “lower limit” for additional support agreed until 2025. The Paris Agreement is the world`s first comprehensive climate agreement.  Concrete results of the increased focus on adaptation financing in Paris include the announcement by G7 countries to allocate $420 million to climate risk insurance and the launch of an early warning and climate risk systems (CREWS) initiative.  In 2016, the Obama administration awarded a $500 million grant to the Green Climate Fund as “the first part of a $3 billion commitment made at the Paris climate negotiations.”    To date, the Green Climate Fund has received more than $10 billion in pledges. In particular, commitments come from industrialized countries such as France, the United States and Japan, but also from developing countries such as Mexico, Indonesia and Vietnam.  If the United States were to join the agreement, it would be technically necessary to establish a NDC within 30 days. From 30 November to 11 December 2015, the France hosted representatives from 196 countries at the United Nations Climate Change Conference, one of the largest and most ambitious global climate conferences ever held. The goal was nothing less than a binding, universal agreement that would limit greenhouse gas emissions to levels that would prevent global temperatures from rising more than 2°C (3.6°F) above the temperature scale set before the start of the Industrial Revolution. In addition, the agreement introduces a new mechanism to “facilitate implementation and promote compliance”. This “non-adversarial” committee of experts will try to help countries that are lagging behind in their commitments to get back on track. There are no penalties for non-compliance. Many national governments have proposed new financial commitments in Paris.
In total, developed countries have pledged $19 billion to assist developing countries. Another sign that developing countries are also supporting is the US$1 million commitment to the new Green Climate Fund (GCF). And for the first time, subnational governments also offered pledges, including €1 million from the City of Paris for the GCF and $6 million from Quebec for the UNFCCC Least Developed Countries Fund. Under the Paris Agreement, each country must regularly identify, plan and report on its contribution to the fight against global warming.  There is no mechanism requiring a country to set a specific emission target on a specific date, but each target should go beyond the targets set previously. The United States officially withdrew from the agreement the day after the 2020 presidential election, although President-elect Joe Biden said America would join the agreement after his inauguration.  Unlike the Kyoto Protocol, which sets legally binding emission reduction targets (as well as sanctions for non-compliance) only for developed countries, the Paris Agreement requires all countries – rich, poor, developed and developing – to do their part and reduce their greenhouse gas emissions. To this end, greater flexibility is built into the Paris Agreement: it does not include language in the commitments that countries should make, countries can voluntarily set their emission targets (NDCs) and countries are not penalized if they do not meet the proposed targets. What the Paris Agreement requires, however, is monitoring, reporting, and reassessing countries` individual and collective goals over time in order to bring the world closer to the broader goals of the agreement. And the agreement stipulates that countries must announce their next set of targets every five years – unlike the Kyoto Protocol, which aimed at that target but did not contain a specific requirement to achieve it. For the agreement to enter into force, at least 55 countries representing at least 55% of global emissions had to join.
The agreement was opened for formal engagement in April 2016 and concluded in April 2017. After the leader of a country decided to join the agreement, the approval of the national government or the adoption of a national law was necessary for that nation to formally participate in it. While the Paris Agreement is not perfect, it is important because it is the first major climate agreement of its kind. And it represents a global step towards solving a problem that greatly affects the entire world. The Paris Agreement is a historic first step, but it cannot be the last. The Paris Agreement was opened for signature on 22 April 2016 (Earth Day) at a ceremony in New York.  After several European Union states ratified the agreement in October 2016, enough countries that had ratified the agreement were producing enough greenhouse gases worldwide for the agreement to enter into force.  The agreement entered into force on November 4, 2016.
 For the first time in history, the agreement brings together all the nations of the world in a single agreement to fight climate change. Developed countries have committed themselves under the UNFCCC to support mitigation and adaptation efforts in developing countries. Under the Copenhagen and Cancún Accords, developed countries committed to mobilize $100 billion a year in public and private financing for developing countries by 2020. At the 2011 United Nations Climate Change Conference, the Durban Platform (and the ad hoc working group on the Durban Platform for Enhanced Action) was established with the aim of negotiating a legal instrument for climate action from 2020 onwards. The resulting agreement is expected to be adopted in 2015.  While increasing the ambitions of NDCs is an important goal of the global stocktake, efforts beyond containment are being assessed. The 5-year reviews will also assess adaptation, climate finance regulations, and technology development and transfer.  The objective of the agreement is to reduce global warming as described in Article 2 and “improve the implementation of the UNFCCC” by:  Warmer temperatures – both on land and at sea – alter global weather patterns and change how and where precipitation falls. These changing patterns exacerbate dangerous and deadly droughts, heat waves, floods, wildfires and storms, including hurricanes. They also melt ice caps, glaciers, and permafrost layers, which can lead to sea level rise and coastal erosion. Warmer temperatures also affect entire ecosystems, unbalancing migration patterns and life cycles.
For example, early spring can cause trees and plants to bloom before bees and other pollinators have emerged. While global warming can lead to longer growing seasons and higher food production in some areas, areas already struggling with water scarcity are expected to become drier, creating a risk of drought, crop failures or wildfires. The Paris Agreement provides a sustainable framework that will guide global efforts in the coming decades. The aim is to increase countries` climate ambitions over time. To this end, the agreement provides for two review processes, each of which goes through a five-year cycle. Where India sets the tone for responsible climate policy, Russia is doing the opposite. It took Russia four years to get national approval – also known as ratification – of the Paris Agreement. Meanwhile, the Russian leader has reversed climate change in recent years. In 2015, Russian President Vladimir Putin warned that “the quality of life of all the inhabitants of the planet depends on the solution of the climate problem.” Only two years later, however, the Russian president took a different stance, denying the important role humans had played in contributing to climate change. Because of these changing views, no real progress has been made in Russia towards responsible climate policy, and Russia`s commitments are vague or weak, and ultimately unlikely to significantly reduce its emissions. On August 4, 2017, the Trump administration sent an official notice to the United Nations stating that the United States intended to withdraw from the Paris Agreement as soon as it was legally allowed to do so.
 The formal declaration of withdrawal could only be submitted when the agreement for the United States was in force for 3 years on November 4, 2019.   On November 4, 2019, the U.S. government filed the notification of resignation with the Secretary-General of the United Nations, depositary of the agreement, and formally withdrew from the Paris Climate Agreement a year later, when the withdrawal took effect.  After the November 2020 election, President-elect Joe Biden promised to reinstate the United States in the Paris Agreement on his first day in power and to renew America`s commitment to mitigating climate change.   In 2014, the ten largest emitters of greenhouse gases accounted for more than two-thirds of global emissions. However, according to independent scientific observers of the Paris Agreement, such as Climate Action Tracker, India is the only issuer in the top ten whose commitments, long-term emissions targets and current policies are consistent with the Paris Agreement. .